Submitted on Friday 13th January 2017
Published on Thursday 19th January 2017
Current status: Closed
Closed: Tuesday 2nd May 2017
Signatures: 36
Remove the 'triple lock' on pensions and invest billions saved into the NHS.
Average income for pensioners is now higher than for workers. The Work and Pensions Committee says the 'triple lock' (which cost an extra £6bn in 2015) is "unsustainable" and "more intergenerationally unfair" on younger families.
By targeting pensioner welfare at only those who need it we can save billions to fund our NHS.
1) The 'triple lock' guarantees that the state pension rises each year by the highest of either inflation, average earnings, or 2.5%.
2) The 'triple lock' cost an extra £6 billion in 2015 - Government Actuary's Department.
3) The average pensioner has a higher income than the average worker, after housing costs and dependants had been taken into account - IFS, 2015.
4) The Work and Pensions Committee called the 'triple lock' "unsustainable" and "unfair" on younger families - November 2016.
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